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XAU/USD 15 March 2024 Intraday AnalysisH4 Analysis: Analysis/bias remains unchanged from yesterday's 14/03/2024) analysis -> Swing: Bullish. -> Internal: Bullish. Price printed a swing BOS and subsequently a bullish iBOS. Bearish CHoCH has been printed. We are now trading within an internal range. As mentioned 11/03/2024, bearish CHoCH, which is the first structural indication, but not confirmation that bearish pullback is underway, will indicate pullback initiation has now been printed. Bearish iBOS will provide confirmation that pullback is underway. Due to the bullish nature of the market, Intraday expectation is for price to target internal high, however, all HTF's are indicating the need for a pullback, therefore, a second potential scenario could be price targeting internal low to confirm pullback is now underway. H4 Chart: M15 Analysis: -> Swing: Bullish. -> Internal: Bearish. Price has now printed a bearish iBOS which confirms comments made on 12 March 2024 that it would be useful to remember that all HTF's are requiring a pullback. Price did try to target weak internal low, as per my comments made yesterda however, we saw price react at an M15 POI. Intraday expectation is for price to react again at 50% EQ, which price is currently doing, or react in premium of 50% EQ, before targeting weak internal low. M15 Chart:
OANDA:XAUUSD
by Khan_YIK
Expecting Gold to head SouthI'm more confident than ever that the USD is going to grow from here, at least to 105, and then let's see. There's loads of scare mongering (and I believe it is just that) around the US debt ceiling (I do not believe that either political side will allow the US to default, at all - loads of fud about insurance policy sales on the increase to hedge against this - blx), and also that China et al are working to remove the USD as the global currency (I 100% believe this is in process, but it's going to take 10 years, not 10 days, nom sen!). For gold, looking at the weekly, we have a long rejection wick (for the third time in the last 2 years), so like the last two, I'm expecting a retracement from here. This is a 3:1, but if we break 1970 then I'm expecting further falls, we drop below 1950 and it's going to drop big!! Only caveat for me is we've seen gold behave rather oddly recently (eg rising as DXY rises), however I believe a big USD push will force Gold down, but keep your wits about you, nom sen!! Trade safe!
PEPPERSTONE:XAUUSDShort
by Finchcliffe